About LPPI
One of the key priorities at LPPI is ensuring that our people work every day in an empowered, supportive, diverse and inclusive culture. Practically, this means recognising and valuing the uniqueness of every individual in terms of background, experience, beliefs and circumstances. This starts with the recruitment process, where we partner with agencies who share our common goal and advertise on a variety of job boards to access the broadest spectrum of candidates. And once successful applicants are on board, we trust our people to work in the way that works best for them which typically involves a mix of office and home working plus an engagement model to ensure frequent two-way feedback.
We are very proud of our culture at LPPI and the benefits it brings to both our people and the business. But don’t just take our word for it! Recently, we invited our entire workforce to describe in three words what is great about us and they said – our people, flexibility and collaboration.
If you would like to join a company that is inclusive and forward-thinking, please read on.
Role Purpose
The Senior Associate will sit within LPPI’s Actuarial and Funding Risk Team and bring their actuarial background and knowledge of the wider pensions marketplace to enhance existing capabilities and expand the breadth and quality of the funding and investment risk oversight LPPI provides. They will deliver and develop actuarial and funding risk modelling, analysis and reporting for LPPI’s LGPS Partner Funds and stakeholders. This will include the development and monitoring of client risk appetite statements, risk management oversight of long-term client funding strategy and ownership of the team’s ALM software.
Key Responsibilities
- Work within the Actuarial and Funding Risk Team, reporting to the head of Actuarial and Funding Risk.
- Deliver and develop actuarial and funding risk modelling, analysis and reporting for LPPI’s LGPS Partner Funds and stakeholders. Support the enhancement of overall solvency, investment and funding risk management analysis.
- Preparation of funding (asset and liability) risk modelling, using ALM software, covering analysis and oversight of long-term client funding strategy.
- Prepare or check ALM analysis and reporting, including the set-up of the software, before it is issued for review.
- Support development, analysis and oversight of Partner Fund funding risk appetite statements.
- Support oversight of strategic asset allocation advice delivered to Partner Funds.
- Monitor long term funding and contribution strategy and risk.
- Maintain and enhance risk data, models, systems and reporting processes.
- Drive process improvements and efficiencies in analysis and reporting.
- Provide support to the wider risk, client management and investment strategy teams.
- Provide support to projects from a risk perspective, including climate risk scenario analysis.
- Check and review work of associate team members, ensuring accuracy and compliance with scheme rules, procedures, technical standards and legislation.
- Assist with the preparation of other regular reports as required to the CRO, Executive and the Board.
- Ensure all reporting which contains actuarial analysis complies with TAS 100.
- Support the maintenance of appropriate policies and desk procedures.
- Participation in wider industry experiences, such as external briefings on industry matters, business line specific events with peers and subject matter experts.
- Keep up to date with relevant actuarial, regulatory and financial markets matters; in particular, LGPS regulations and developments.
- Conduct research of wider pensions market and industry level funding considerations, to provide perspective on risk and funding.
- Develop technical skills and knowledge in relation to the role and gain knowledge of systems and processes through application.
Requirements for the role
- Newly Qualified, Nearly Qualified, or have completed associate level at IFoA.
- Demonstrable interest and have demonstrated experience in working within risk management, consulting or ALM-based function in the DB pension fund industry.
- Confident in answering client/stakeholder queries, will also have the ability to explain technical issues in simplified terms to Partner Funds, stakeholders and colleagues.
- Good modelling and excel skills, experience in using ALM software, some prior coding knowledge, use of PowerBI and Python would be attractive but not essential. Knowledge of Ortec GLASS would be desirable.
- Ability to work under pressure to tight deadlines, prioritise work effectively, strong time management and deliver work to a consistent standard of excellence.
- Change orientated and commercially aware, with the ability to produce good quality reports and add tangible value to technical discussions.
- Demonstrable lateral thinking, problem solving, excellent communication and organisational skills.
- Adaptable and flexible, pro-active, self-motivated, take the initiative.
Reasonable adjustment will be made to working arrangements to accommodate a person with a disability who otherwise would be prevented from undertaking the work.
